Of course as you gather more experience the worth of your degree gets less and less (unless you're going for snobby consultancies where it's more about talking than doing)
Certainly employers may filter junior employees by the presence of a degree (although small shops won't care, nor will those with technical staff who can override personal and their blinkers).
But once you a decent amount of experience under your belt (and realise all that theory you learned can be wrong, or too heavy, or misapplied, just like patterns can) then the experience is going to count for more.
When I've been recruiting I've ignored degrees. And MSCDs.